Global oil prices tumbled on Friday and fell 9 percent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency (IEA) that the oil glut is growing.
Sectors
China drug approval backlog jumped by a third last year
China had more than 18,500 drugs waiting for approval at the end of 2014, up by a third from a year before, the official Center for Drug Evaluation said on Friday, reflecting industry concern that it is getting harder to get medicines approved in the China market.
Greece's Varoufakis says QE to fuel unsustainable equity rally
The European Central Bank's bond purchases will create an unsustainable stock market rally and are unlikely to boost euro zone investments, Greek Finance Minister Yanis Varoufakis warned on Saturday.
Uber in deal with China's BYD to test electric cars
Uber Inc said on Friday it struck a deal with Chinese automaker BYD Co Ltd to test a fleet of electric cars for its drivers. The test program, which kicked off a few weeks ago in Chicago and could eventually expand to other cities, is the Silicon Valley startup's first attempt to focus on an electric vehicle, said Uber spokeswoman Lauren Altmin."We've seen interest in the program already from current and potential Chicago partners (drivers)," Altmin said.
Singapore fashion week offers homegrown labels a shot at global fame
Designers Victoria Beckham and Diane von Furstenberg headline Singapore's celebrity-studded fashion week in May, putting the spotlight on a new partnership with a U.S. industry group that promotes homegrown talent and designer labels.
Latest News
The European Union has backed Euratom's decision to block Hungary's 12 billion euro nuclear deal with Russia, a move that could worsen the situation between the Kremlin and Brussels, the Financial Times reported.
The European Union has yet to receive confirmation that Ukraine and Russia will meet on March 20 to discuss gas supplies, the bloc's Energy Commissioner Maros Sefcovic said on Friday.
From cut-price apple pies to free iPads, companies in China are transforming Sunday's dreaded consumer rights day into a shopping frenzy, to blunt the impact of being named and shamed in state broadcaster CCTV's annual expose.
Oil prices might have stabilized only temporarily because the global oil glut is worsening and U.S. production shows no sign of slowing, the International Energy Agency said on Friday.
GlaxoSmithKline (GSK.L) has taken profits in Aspen Pharmacare (APNJ.J) by selling half its stake in the South African drugmaker for $853 million, following a long investment in the firm.
Broadband providers Sky and TalkTalk have called on Britain's telecoms regulator to break up BT, the market leader whose network they rely on, in the biggest review of the sector for a decade.
China's Alibaba Group Holding Ltd, the world's largest e-commerce firm, has begun hunting staff in Seattle, home turf of Amazon.com Inc and Microsoft Corp, focusing on savvy cloud computing hires as it ramps up U.S. operations.
United Technologies Corp's (UTX.N) chief executive officer said on Thursday that the company will spend $1 billion on acquisitions this year, "maybe a little bit more," even as he eyes bigger targets.
The world's largest watchmaker unveiled its riposte to Apple Inc's smartwatch on Thursday, announcing a plan to put cheap programmable chips in watches that will let wearers from China to Chicago make payments with a swipe of the wrist.
